Mixed-Use Property With Two
For Sale
$499,900
348 Wendel, Irwin, PA 15642
CommercialSale, Irwin, PA
Property Size5,540 SF
Lot Size2.05 Acres
Price / SF$60.77
Days on Market219
Property Features for 348 Wendel
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Villa
Zoning description
Villa
Parking
25
Subdivision
Hempfield Twp - WML
Standard status
Active
Lot size
2.05 Acres
Taxes and HOA fees
Tax Annual Amount
4100
Amenities
office space
residential apartment
automotive detailing garage
commercial garage
storage area
Listing Agency:
CENTURY 21 FAIRWAYS REAL ESTATE · Century 21 Real Estate
(724) 864-5916
Listed By:
Susan Gill/ Dan Lyons · License #RM423921
(412) 537-9183
Added: Jan 29
Changed: Sep 4
Last Checked: Sep 5 at 2:06AM
MLS# 1738439
Copyright © 2026 West Penn Multi List, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use commercial property comprises two buildings with approximately 8,226 square feet of gross building area. The primary structure measures approximately 5,540 square feet across two stories and includes an office layout with an open work area, five private offices, and restrooms. Its second floor contains a two-bedroom apartment with living, kitchen, dining, enclosed patio, and bathroom areas. The lower level provides approximately 2,000 square feet for automotive detailing, along with additional garage and storage space, concrete block construction, and overhead drive-in doors.
A detached one-story commercial garage adds approximately 2,686 square feet of open commercial space, restrooms, and attached storage. The buildings have separate electrical systems and oil-fired forced-air heating. The site includes approximately 465+/- feet of frontage along Wendel Road and approximately 40+/- gravel and asphalt parking spaces distributed around the improvements. The property consists of two contiguous tax parcels and is identified with Villa zoning.
A detached one-story commercial garage adds approximately 2,686 square feet of open commercial space, restrooms, and attached storage. The buildings have separate electrical systems and oil-fired forced-air heating. The site includes approximately 465+/- feet of frontage along Wendel Road and approximately 40+/- gravel and asphalt parking spaces distributed around the improvements. The property consists of two contiguous tax parcels and is identified with Villa zoning.
Key Highlights
- Approximately 8,226 square feet across two buildings
- Primary building includes office space, a two‑bedroom apartment, automotive detailing area, garages, and storage
- Detached one‑story commercial garage contains approximately 2,686 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$42,855
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.57%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$857,100
$857.1K
Cap Rate 7%
$612,214
$612.2K
Cap Rate 9%
$476,167
$476.2K
Market Conditions
NOI Build-Up for 8,226 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$72.6K $8.83/SF
− Vacancy
−$4.1K −$0.49/SF
EGI
$68.6K $8.34/SF
− OpEx
−$25.7K −$3.13/SF
NOI
$42.9K $5.21/SF
Area
Westmoreland County, PA
Vacancy
5.60%
Lease Rate
$8.83 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$857,100
Cap Rate 7%
$612,214
Cap Rate 9%
$476,167
Alternative Uses
Best Use
Office B
$1.50M
$1.31M – $1.75M
NOI $105,084 @ 7.0% cap · market cap 21.02%
Second Best
Retail
$1.35M
$1.19M – $1.58M
NOI $94,838 @ 7.0% cap · market cap 18.97%
Theoretical Best
Office A
$2.10M
$1.83M – $2.44M
NOI $146,670 @ 7.0% cap · market cap 29.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
48
Businesses Nearby
Explore this area
Business Placement
Demographics for 15642, PA
46,461
Population
20,299
Households
2.3
Avg Household Size
46
Median Age
41%
College-Educated
98%
High-School Grad
46.0 sq mi
ZIP Area
1,010
Density / Sq Mi
$92,975
Median Household Income
$55,961
Median Earnings
$960
Median Rent
$236,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-building commercial property combining office, automotive, garage, storage, and residential components.
Where is this mixed-use property located?
The property is located at 348 Wendel Irwin, PA.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Approximately 8,226 square feet across two buildings; Primary building includes office space, a two‑bedroom apartment, automotive detailing area, garages, and storage; Detached one‑story commercial garage contains approximately 2,686 square feet
